- Wall Street’s main indexes rose on Monday as technology stocks rebounded from a recent pullback that was sparked by a surge in bond yields, while Tesla shares surged after Cathie Wood’s Ark Invest set a three-year price target of $3,000.
A sharp run-up in Treasury yields since mid-February has dictated the course of equities trading, while weighing on high-flying tech-focused stocks. The S&P 500 and the Dow, however, clinched all-time highs as early as last week on bets that stimulus and vaccine rollouts would lead to a strong rebound in the U.S. economy.
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